St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-12-18

The real estate market has run along
during the past week just about as it
has for the last few months. Sales hare
been moderate and inquiry fair, but
there is no activity at all, and daily
some little dealer that went into the
business without capital drops out and
falls by the wayside, The business
seems to be getting back into the hands
of the older and more reliable dealers.
In this respect the market MAY be re-
garded as having improved.
OF course, every dealer is asked his
opinion as to when the real estate bust
ness will revive, just as though a real
estate dealers opinion would be better
than the opinion of any other person.
This knowledge of the future is some
thing that is possessed by one man just
about as much as it is by another, and
no more, and mems opinions on such mat
tiers are generally nothing more or less
than diguiSed statement of their wishes
and he pes. Last summer the dealers
all said that business would revive in
September. and when that month was
reached and there was no change, the
time was postponed to December, and
then they decided that the revival
would not come till spring. The fact
of the matter is no one can tell when
the market will be changed, and the
dealer with large amounts of real estate
on his hands needs to look out and get
into a financial position SO that he can
hold it till he can make his expected adj
vance. If he can do that he will meet
with no misfortune. If he cannot, he
may look for trouble.
1t is generally believed that the lull
in the market found purchasers i'll a
pretty good condition to endure a
squeeze. There were some, no doubt,
who had bought beyond their means and
who will have trouble to meet interest
and deferred payments. With such it
is likely TO go hard. The indications
are that the proportion of those who
will be able to meet their interest and
deferred payments is much greater than
was looked for. Many of these Obliga-
tions are now becoming due, and to the
disappointment of all they are being
met with surprising promptnesS.
This is one Of the most gratifying
phases of the market at the present
time. One of the heaviest purchasers
of real estate in st. Paul stated yester-
day that he had bought and sold real es-
y
but had never before known a time
when mortgages and interest were so
promptly met as they have been during
this season.. All the regular dealers say
the same. This gentleman referred to
had $4,000 in such obligations that
came due about the first of this
month. all of which were met but
two or three thousand dollars, which
were satisfactorily arranged for. No
doubt that there has been great diSap-
pointment on the part of many who
bought q few months or year ago, with
the expectation that prices would adj
vance and that handsome profit bould
be made. Still it is some satisfaction i'll
knowing that while such holders cannot
now sell for an advance, they can
hold what they have got and that they
cannot be forced to sell.
This is really the most satisfactory
consideration to be observed in the
present condition of the real estate
market. Ii is simply this: eff we can
not sell we can hOld." 1t show that
there is a sOlidity in the market. In
connection with this it should be bourn
in mind that Notwithstanding the COM
parative quiet in the market prices are
held firm. OF course when dullneSS
comes upon the real estate market the
first property that suffers is the outside
realty. Much of this that was sold last
year is in the hands of those who bought
for an advance. Now, though the pur
chaserS have been disappointed i'll most
instances. they can hold for better
market, and are doing so. Consequently
most of the outside property is held
firmly. while all inside really is firm
and solid.